Nebius Group (NASDAQ:NBIS) Shares Down 8.3% – Here’s Why

Nebius Group N.V. (NASDAQ:NBIS)’s share price was down 8.3% on Tuesday . The company traded as low as $32.76 and last traded at $33.21. Approximately 7,724,720 shares were traded during mid-day trading, a decline of 42% from the average daily volume of 13,348,467 shares. The stock had previously closed at $36.22.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on NBIS. BWS Financial raised their price objective on shares of Nebius Group from $51.00 to $60.00 and gave the company a “buy” rating in a research report on Friday. DA Davidson initiated coverage on Nebius Group in a research report on Tuesday. They set a “buy” rating and a $50.00 price target for the company.

Nebius Group Stock Down 6.3 %

The company has a market cap of $7.99 billion, a P/E ratio of -59.26 and a beta of 2.57. The business has a 50-day simple moving average of $34.42.

About Nebius Group

Nebius Group N.V., a technology company, builds intelligent products and services powered by machine learning and other technologies to help consumers and businesses navigate the online and offline world. The company’s services include Nebius AI, an AI-centric cloud platform that offers infrastructure and computing capability for AI deployment and machine-learning oriented solutions; and Toloka AI that offers generative AI (GenAI) solutions at every stage of the GenAI lifecycle, such as data annotation and generation, model training and fine-tuning, and quality assessment of large language model for accuracy and reliability.